Latest News
MGM Resorts International And MGM Growth Properties Announce Transaction On Park MGM And NoMad Las Vegas
Reading Time: 2 minutes
MGM Resorts International (“MGM Resorts”) (NYSE: MGM) and MGM Growth Properties LLC (“MGP”) (NYSE: MGP) announced today that they have entered into an agreement whereby MGP will pay MGM Resorts consideration of $637.5 million for investments made to reposition Park MGM and NoMad Las Vegas, which was formerly known as Monte Carlo Resort and Casino. As part of this agreement, the annual rent under the existing Master Lease between MGM Resorts and MGP will increase by $50 million.
“The creation of Park MGM and NoMad Las Vegas, in conjunction with T-Mobile Arena, Park Theater and the entire mid-Strip neighborhood, further solidify our position as a global resort and entertainment leader,” said Jim Murren, Chairman and CEO of MGM Resorts. “As we continue to execute our multifaceted strategic plan, and as part of our ongoing efforts to optimize our portfolio, we believe that these prudent investments in our assets will bring substantial value to MGM Resorts, MGP and our respective shareholders.”
“Park MGM and NoMad Las Vegas are exciting new concepts on the Las Vegas Strip, further enhancing our already outstanding portfolio,” said James Stewart, Chairman and CEO of MGM Growth Properties. “MGM Resorts has invested in the significant repositioning of Park MGM and NoMad Las Vegas and we are excited to partner with MGM Resorts for these iconic assets. We intend to fund the consideration through a combination of cash and availability under our credit facility. This transaction will be immediately accretive to our AFFO and further demonstrates the power of our business model and partnership with MGM Resorts.”
Concluded Murren, “MGM Resorts will continue to deliberately reduce our owned real estate through accretive transactions in the future. MGP is an attractive partner to achieve this goal. We remain committed to our stated strategic objectives, including reducing our ownership stake in MGP.”
Rockefeller Capital Management is acting as financial advisor to the conflicts committee of the MGP Board of Directors.
Consistent with the Master Lease terms, 90 percent of the increased rent will be contractually fixed to grow at two percent per year until 2022, and thereafter will continue to grow provided a tenant revenue to rent ratio is met. The remaining 10 percent is payable in percentage rent. The transaction is expected to close in the first quarter of 2019 and is subject to customary closing conditions.
Source: Latest News on European Gaming Media Network
Latest News
13 gambling company executives in appeal against ATG’s proposal to raise gambling tax in Sweden
BOS – The Swedish Trade Association for Online Gambling – is today submitting a letter to the government. The letter is signed by 13 gambling company executives and BOS’s secretary general. In the letter, the signatories urge the government not to support the gambling company ATG in their proposal to raise the general gambling tax in favour of a reduction in the tax on horse racing.
As a main argument, the signatories highlight the fact that the level of the gambling tax affects the proportion of consumers who choose to gamble on the legal licensed gambling market, and that too many consumers are already opting out of the safety of the licensed market with its extensive consumer protection.
“Horse betting has a channelisation rate of between 98-99 percent. Online casino, according to the most optimistic estimates, has a channelisation rate of between 72-82 percent. The higher the tax, the greater the risk that the consumer will choose unlicensed gambling, where neither gambling tax nor consumer protection exists. To then lower the gambling tax for horse betting, which already has a very strong channelisation, and raise it for online casino, which has a very weak channelisation, would be completely incomprehensible. At least for those who prioritize consumer protection,” says BOS Secretary General Gustaf Hoffstedt.
You can read the full letter here: Letter to Government on ATG gambling duty
The post 13 gambling company executives in appeal against ATG’s proposal to raise gambling tax in Sweden appeared first on Gaming and Gambling Industry Newsroom.
Latest News
Momentum Series: A Crash Gaming collection crafted for emotions in your online casino
FBMDS proudly unveils the Momentum Series, a crash gaming collection built to deliver fast-paced thrills, immersive visuals, and strong retention for online casino operators worldwide with the Piñata Rush, Magical Garden and Arctic Jumper titles.
Designed “for emotions” and “born to captivate”, the Momentum Series includes three high-performing titles — Piñata Rush, Magical Garden, and Arctic Jumper — that redefine the crash genre with dynamic gameplay, deep personalization, and stunning 3D environments.
The Momentum Series was created to give players more control, excitement, and emotional connection while providing operators with games designed for longer sessions and better retention metrics. Each title combines intuitive gameplay with high volatility, 97%+ RTP, and a responsive, mobile-first design, ensuring performance across devices and browsers. Players can personalize their experience with auto bets, double bets, and auto cashouts, adapting each round to their individual risk strategy.
Piñata Rush offers a colorful, multiplayer crash gaming experience set in lively Mexican-inspired streets. Players can track others’ progress in real time and enjoy a community-driven atmosphere that keeps engagement levels high. With 97.06% RTP and features such as Multiplayer, Auto Play, Auto Cash-Out, and a configurable Max Bet from 100x to 1000x, this crash game provides vibrant entertainment across Android, iOS, Mac OS, and Windows.
Magical Garden immerses players in a lush 3D fantasy world where serenity meets suspense. This single-player experience blends calm and thrill through Auto Play and Auto Cash-Out functions, allowing personalized strategies and a Max Bet configurable from 100x to 1000x. With 97% RTP, it offers operators a high-performing product with wide cross-platform compatibility.
Arctic Jumper brings adrenaline to the frozen north with a fully 3D single-player experience. Its immersive visuals and smooth performance are enhanced by Auto Play, Auto Cash-Out, and customizable betting options that match each player’s risk profile. Operating at 97% RTP, this title delivers consistent engagement and retention potential for competitive markets.
“The Momentum Series represents FBMDS’ evolution into crash gaming — a genre built on emotion, timing, and control,” said Renato Almeida, Director at FBMDS. “With Piñata Rush, Magical Garden, and Arctic Jumper, we’re delivering fast, flexible, and emotionally charged experiences that empower both players and operators.”
FBMDS brings a winning portfolio of innovative iGaming solutions, blending tradition with cutting-edge technology to deliver engaging, reliable, and profitable gaming experiences for operators worldwide. With a focus on slots, table games, video bingo, and now crash games, FBMDS empowers partners to scale and succeed in competitive markets.
The post Momentum Series: A Crash Gaming collection crafted for emotions in your online casino appeared first on Gaming and Gambling Industry Newsroom.
Latest News
Cozy Coast Launches Worldwide: Beach Adventure from InnoGames Now Available
- Sunny feel-good vibes for everyone: Cozy Coast now available for iOS and Android
- New trailer highlights entertaining storytelling, merge-2 puzzles, and diverse gameplay elements
- Upcoming updates with new events and challenges for long-lasting fun
A beach adventure with heart: InnoGames, one of Germany’s leading developers and publishers of mobile and browser games, today launches Cozy Coast worldwide, bringing sunny feel-good moments to smartphones and tablets. The game is now available for free on the App Store and Google Play Store. Players in selected regions have already explored the Mediterranean island of Calista and experienced the captivating story of the two protagonists Mia and Elara. The unique mix of merge-2 puzzles, exploration, and heartfelt moments is clearly resonating with players, earning 4.8 on the App Store and 4.6 on Google Play out of 5 stars.
With today’s launch, InnoGames expands the game’s language support. Alongside the existing languages German, English, and French, Cozy Coast is now also available in Italian, Polish, Portuguese, and Spanish.
New Features, More Events: Regular Updates for Lasting Fun
In Cozy Coast, players accompany best friends Mia and Elara on a journey across the picturesque Mediterranean island of Calista. For Mia, the island is filled with childhood memories, but its former charm has faded. Together, they set out to restore the island. The gameplay centers on merge-2 mechanics: By skillfully combining items, players fulfill the wishes of island residents, collect resources, and restore buildings to unlock new areas of Calista. Along their journey, Mia and Elara encounter interesting characters, discover secrets, and explore the environment.
Check out the trailer on youtube: youtube.com/watch?v=hpacBlPfio4
Since the initial launch of Cozy Coast in selected regions, the development team has steadily expanded the merge-2 adventure. Customizable portraits, 3D decoration events, special quests with unique rewards, and advanced challenges for experienced players ensure there’s always something new to discover. The holiday season has also arrived: players can earn daily rewards, including the festive avatar “Winter Elara”.
Key Features of Cozy Coast
- Merge items: Strategically combine items to create new and higher-value objects
- Restore the seaside promenade: Renovate abandoned buildings to unlock new areas
- Adventure in paradise: Follow best friends Mia and Elara as they discover hidden places and uncover the secrets of a corporation with questionable intentions
- Characters with personality: Meet fascinating characters. Every encounter comes with a story – sometimes touching, sometimes mysterious, but always full of emotion
- Fresh challenges every day: Participate in competitive, daily, weekly, and seasonal events like exploration quests, puzzle collections, decoration and special story-driven missions to receive exciting rewards and enjoy lasting gameplay
- A personal touch: Use portrait customization to bring individuality and personality to every adventure.
- Unwind in a Mediterranean setting: Experience stress-free gameplay paired with a captivating story of friendship, courage, and hope
- Free to play without restrictions: Available worldwide on iOS and Android (except in Russia and China)
Cozy Coast is available on the App Store for iOS and on Google Play for Android.
For the latest news about the game, visit the official website or follow Cozy Coast on Facebook, Instagram, TikTok, and YouTube.
The post Cozy Coast Launches Worldwide: Beach Adventure from InnoGames Now Available appeared first on Gaming and Gambling Industry Newsroom.
-
Latest News3 months ago
Announcement: 25th September 2025
-
Latest News3 months ago
AI-Powered Gamification Arrives on Vegangster Platform via Smartico
-
Latest News1 month ago
JioBLAST Launches All Stars vs India powered by Campa Energy: A New Era of Creator-Driven Esports Entertainment
-
Latest News3 months ago
The Countdown is On: Less Than 3 Months to Go Until The Games of The Future 2025 Kicks Off in Abu Dhabi
-
eSports1 month ago
CS:GO Betting Gains Momentum in the iGaming Sector
-
Latest News4 days agoSCCG Announces Strategic Partnership with Yellow Elephant Studios to Expand Multi-Channel Gaming Content Worldwide
-
Latest News3 months ago
Adidas Arena Set to Welcome the 2026 Six Invitational
-
Latest News3 months ago
LiveScore Group announces transformational partnership with X and xAI to drive the future of integrated sports media and betting


You must be logged in to post a comment Login